Maxine Waters in lead for top House Financial Services Committee Democrat

Rep. Maxine Waters has won endorsements from key Democrats on the House Financial Services Committee for her party’s top slot on the powerful panel, marking a stunning comeback for the California Democrat after an ethics scandal nearly sank her career.

Democratic Reps. Carolyn Maloney of New York, Luis Gutierrez of Illinois, Michael Capuano of Massachusetts, Lacy Clay of Missouri and Carolyn McCarthy of New York — all of whom serve as ranking subcommittee members on the committee — sent a “Dear Colleague” letter backing Waters for the top Democratic post. Maloney, who lost her bid to be the top Democrat on the Oversight and Government Reform Committee two years ago to Rep. Elijah Cummings (D-Md.), was rumored to have been eyeing the top Democratic slot on the Financial Services Committee.

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House Democrats are scheduled to elect their ranking members for full committees as early as this week, according to Democratic aides. Subcommittee posts will be decided in December.

“In nearly 22 years of service on the Committee, Rep. Waters has emerged as a leader and influential voice on critical financial services issues, serving as Ranking Member or Chair for every subcommittee under the Committee’s jurisdiction,” the Democrats wrote. “This experience has afforded her the opportunity to hone her understanding of the issues before the Committee, which she has used to draft and promote legislation to improve the nation’s housing programs, banking sector and capital markets.”

One Washington-based banking executive said Tuesday that backing Waters was clearly the right move for Maloney.

“Of course. You have to. You rally the family even if you don’t like the choice. You have to get on board,” the executive declared.

Paul Brathwaite, a principal at the Podesta Group who formerly served as executive director of the Congressional Black Caucus and advises clients on financial policy issues, said there was a genuine interest within the financial sector to develop a productive working relationship with Waters and her top aides.

“It probably stems from the fact that a lot of people understand that the Congress is not always going to be led by Democrats in the Senate or Republicans in the House,” Brathwaite said. “These things go back and forth and how to work with influential members or how to get to know them better is in companies’ and organizations’ best interest.”

great. Maxine Waters' intellect is astounding: last year, she said the economy was a black problem and black people were entitled to a separate fund that would be doled out based on race. Contrary to statistics everywhere, Maxine has learned there are no white people out of work. She's bipartisan (proof: her quote that the Tea Party can "go straight to hell"). And then there are the ethics charges.

Hopefully this model of tolerance and justice will soon be on a powerful financial committee. This is probably just a taste of things to come now that Obama has has been reelected to bury the United States.

She is an excellent choice. As an expert con artist herself, she will bring years of experience at fleecing the American tax payer, and may even make a few extra million for herself and her banking fraud husband. I am sure that the Dem's couldn't be more proud to have such an asteemed grifter such as Ms Waters to oversee the financial sector. America's chickens have sure come home to roost! Oh I know, don't disagree otherwise you are a racist...yada yada yada.